Croatia GDP

GDP dropped 0.7% over the same quarter last year in Q2, according to the Croatian Bureau of Statistics' preliminary flash estimate released on 30 August. While the decrease represents an improvement over the 1.5% contraction observed in the previous quarter, it marks the seventh consecutive drop in economic activity. Full details of the national accounts data will be published on 10 September.

The government is adamant that the economy will expand 0.7% this year. FocusEconomics panelists' assessment is more pessimistic; they expect GDP growth to be flat in 2013, which is down 0.2 percentage points from last month's estimate. In 2014, the panel expects economic growth to rebound to 1.4%.

Author:Armando Ciccarelli, Head of Data Solutions

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Croatia Economic News

The economy gained traction in the third quarter of 2017, supported by a surge in fixed investment and solid household spending, despite the uncertainty still surrounding the restructuring of Croatia’s largest private company, food giant Agrokor.

Industrial output in October increased 4.3% in working-day adjusted terms from the same month last year, following September’s softer 3.0% expansion.
October’s result was pushed-up by a remarkable expansion in manufacturing sector: Manufacture of wood and wood products, as well as of refined petroleum products and of food products recorded particularly high growth rates.

Industrial output in September increased 3.0% in working-day adjusted terms from the same month last year, following August’s slightly stronger 3.2% expansion.
September’s result was pushed-up by a faster expansion in the electricity, gas, steam, and air conditioning supply sub-sector, and by a turnaround in the mining and quarrying sub-sector, while growth in the manufacturing sector slowed considerably from August, weighing on the final result.
On a month-on-month basis, industrial production in September expanded 1.4% in seasonally- and working-day adjusted terms, following August’s much softer 0.3% uptick.